The Dangote Petroleum Refinery has just lately exported two jet gasoline cargoes to Saudi Aramco, the nationwide oil firm of Saudi Arabia and the world’s largest oil producer.
President of Dangote Group, Aliko Dangote, revealed this on Tuesday throughout a go to by the Nigerian {Economic} Summit Group (NESG) workforce to each Dangote Fertiliser Restricted and the Dangote Petroleum Refinery & Petrochemicals in Ibeju Lekki, Lagos.
“We’re reaching the bold objectives we set for ourselves, and I’m happy to announce that we’ve simply offered two cargoes of jet gasoline to Saudi Aramco,” he stated.
Dangote stated attracting Saudi Aramco and different massive firms within the international market is a testomony to the world-class standing of his refinery.
The Africa’s richest man stated the Dangote refinery has steadily elevated its output because it began operation in 2024, and it has now reached a capability of 550,000 barrels per day.
Nairametrics reported that the mega refinery set a aim of reaching its full capability of 650,000 bpd by the top of the primary half of 2025.
FG Ought to Assist Home Industries to Obtain $1 Trillion Financial system – NESG
NESG Chairman, Mr. Niyi Yusuf counseled Aliko Dangote for establishing the world’s largest single-train refinery value $20 billion in Nigeria.
He stated the nation wants extra investments of this magnitude to achieve its $1 trillion financial system aim.
“To realize a $1 trillion financial system, a lot of that should come from home investments. I joked throughout the bus experience that whereas others are dredging to create islands for leisure, you’ve dredged 65 million cubic tonnes of sand to create a future for the nation.
“This refinery, fertiliser plant, petrochemical complicated, and supporting infrastructure are monumental.
“My hope is that God grants you the energy, braveness, and well being to grasp your ambitions and that in your lifetime, a brand new Nigeria will emerge,” he stated.
Yusuf burdened that such native industries are important to Nigeria’s industrialisation and can assist foster the expansion of Small and Medium Enterprises (SMEs).
He added that the NESG would proceed to advocate for an improved funding local weather to draw entrepreneurs, enhance improvement, guarantee meals safety, and handle insecurity.
FG should assist home firms
Yusuf expressed displeasure that Nigeria has change into a dumping floor for international merchandise, calling on the Federal Authorities to assist entrepreneurs within the nation and assist them change into international gamers.
“It’s inconceivable {that a} nation of over 230 million folks, with an annual beginning price greater than the entire inhabitants of some nations, remains to be depending on imports to feed its residents,” he famous.
The Chairman praised Dangote’s daring imaginative and prescient for making Nigeria self-sufficient in refined petroleum merchandise.
“The NESG is grateful, and I imagine the nation is as properly. This refinery represents the audacity of braveness. It takes immense effort to do what you’ve performed and nonetheless be standing and smiling. Thanks for uplifting us and exhibiting that nothing is inconceivable.
“You’ve reworked Nigeria from a internet importer of petroleum merchandise to a internet exporter. We’ve all learn Assume Large, however that is really about considering massive. The message is evident: the personal sector can result in actual change.”
Dangote, in his response, burdened the significance of the personal sector in nationwide improvement, asserting that Nigeria’s challenges may largely be overcome by offering gainful employment to its folks.
He cautioned towards unchecked importation within the guise of a free market, highlighting that each developed and growing nations, together with the USA and China, actively shield their home industries to safeguard jobs and promote self-sufficiency.
Dangote additionally cited the instance of the Benin Republic, the place cement imports are restricted as a part of a deliberate technique to guard native industries, regardless of the proximity of his Ibese plant.
“The President is a private good friend, and my Ibese plant is simply 28km from Benin, but they refuse to permit imports to guard their native industries, most of that are grinding crops,” he remarked.
What you must know
- Nairametrics reported that the Dangote Petroleum Refinery has disrupted the worldwide provide chain of petrol, threatening the survival of refineries within the U.S. and Europe.
- It’s exporting Premium Motor Spirit (PMS), Diesel and Jet fuels to varied nations throughout Africa and Europe.
- The Refinery produces sufficient to fulfill native calls for, however the importation of petroleum merchandise continues. Nairametrics has constantly reported the continued authorized battle between Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the continued importation of fuels.
